LRS General Discussion, page-17133

First 17133 Last

Share
Profile

Follow
Zammita

3,252 Posts.

885

11/03/24

19:16

Post #: 72845592
Share

Originally posted by dawgfather: ↑

Yes we are very much embedded at the boring part of the cycle. Not yet funded, limited exploration drilling to keep retail punters enthused and as you rightly point out - conflicting market signals everywhere from lithium prices to interest rates and EV sales.

It seems clear to me that all 15 rigs (or close to it) are being used for in-fill, geo tech and sterilisation drilling (satellite images confirm this).

Unfortunately retail punters do not get excited about buying stocks which are only drilling existing JORCs - they want exploration excitement. This won’t happen for LRS until April, some notes below:

- My drill model forecasts in-fill drilling should be done by first week of April, which seems accurate because the company has been forecasting the same date in webinars. However it’s hard to know when the geotech and sterilisation drilling will be completed and this could be completed this month, leaving a few rigs to start some exploration work. Base case is that no new exploration is likely until mid April.

- Offtake announcement - I differ from you on this one. Macquarie is running both A11 and our offtake process concurrently. A11 are suggesting an outcome by April/May - so I think we could see a similar timing. In recent webinars, Mitch has been loosely suggesting offtake news around the time of the DFS. Short listed parties completed site visits to Colina last week is my understanding.

- Resource upgrade is easier to forecast. Database cut off first week of April means these assays come back ~first week May which means mid May resource upgrade is highly likely.

Really the only think that could get a short term SP pump is the outstanding Fogs East assays which should now have been received. However, lack of news is making me think that these may be modest.

So in summary, LRS isn’t the place for short term traders right now, given the lack of shorter term catalysts. But I see it as a great chance to pick up shares for those with a longer horizon. Obviously not advice.

Expand

l believe l heard Tony say 11 rigs are infill drilling and the other 5 are exploring other prospects on the latest red cloud preso.

LRS Price at posting: 20.0¢ Sentiment: Buy Disclosure: Held
3 Upvote

0 Great analysis

Reply

Top Stories

CXU

Cauldron discovers shallow uranium up to 2km at WA's Yanrey

88E

HotCopper users smell capital raising as 88 Energy says "significant update" at Phoenix

PAR

FDA hands Paradigm Biopharma guidance to re-jig phase 3 osteo trial – or is it a delay?

ASX Market Open: Australian bourse to fall as subdued Wall Street awaits rate cut decision | September 18, 2024

HVN

Harvey Norman clocks subdued gains as Echo Law's junk warranty class action kicks off

There are more pages in this discussion • 2,173 more messages in this thread...

First 17133 Last

Add LRS (ASX) to my watchlist

(20min delay)
Last 19.5¢		Change 0.005(2.63%)		Mkt cap ! $546.2M

Open	High	Low	Value	Volume
19.0¢	20.0¢	19.0¢	$1.657M	8.500M

Buyers (Bids)

No.	Vol.	Price($)
69	5479310	19.0¢

Sellers (Offers)

Price($)	Vol.	No.
19.5¢	55688	6

View Market Depth

No.	Vol.	Price($)
63	5052986	0.190
9	1272974	0.185
13	1026600	0.180
12	926999	0.175
9	784453	0.170

Price($)	Vol.	No.
0.195	84257	5
0.200	9055259	48
0.205	6314431	40
0.210	6521234	39
0.215	2700083	26

Last trade - 12.32pm 18/09/2024 (20 minute delay)

LRS (ASX) Chart

LRS General Discussion, page-17133

Cauldron discovers shallow uranium up to 2km at WA's Yanrey

HotCopper users smell capital raising as 88 Energy says "significant update" at Phoenix

FDA hands Paradigm Biopharma guidance to re-jig phase 3 osteo trial – or is it a delay?

ASX Market Open: Australian bourse to fall as subdued Wall Street awaits rate cut decision | September 18, 2024

Harvey Norman clocks subdued gains as Echo Law's junk warranty class action kicks off

Featured News

Buyers (Bids)

Sellers (Offers)

Featured News

LRS General Discussion, page-17133

Top Stories

Cauldron discovers shallow uranium up to 2km at WA's Yanrey

HotCopper users smell capital raising as 88 Energy says "significant update" at Phoenix

FDA hands Paradigm Biopharma guidance to re-jig phase 3 osteo trial – or is it a delay?

ASX Market Open: Australian bourse to fall as subdued Wall Street awaits rate cut decision | September 18, 2024

Harvey Norman clocks subdued gains as Echo Law's junk warranty class action kicks off

Featured News

Buyers (Bids)

Sellers (Offers)

Featured News